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HomeMy WebLinkAboutSD-23-01 - Supplemental - 1580 Dorset Street (5)GRAVEL & SHEA DRAFT 10/24/22 DECLARATION OF PLANNED COMMUNITY FOR EDGEWOOD This Declaration of Planned Community for Edgewood (the “Declaration”) is made by JJJ SOUTH BURLINGTON, LLC, a Vermont limited liability company with a place of business in Essex, in the County of Chittenden and State of Vermont (the “Declarant”). Background 1.Declarant is the owner in fee simple of two (2) parcels of land, comprising approximately 65.48 acres, more or less, between Dorset Street and Hinesburg Road in South Burlington, Vermont, together with all easements, rights, appurtenances, and improvements thereto, as further described in Exhibit A (the “Property”). 2.Declarant intends to establish a common interest community on the Property in one or more phases, substantially as depicted on a plat entitled: “Subdivision Plat of Cider Mill Phase II, South Burlington, Vermont,” Plan Sheets PL1, PL2, and PL3, prepared by O’Leary-Burke Civil Associates, PLC, dated June 26, 2018, and recorded in Map Slide 630 at Pages 4-6 of the City of South Burlington Land Records (collectively the “Subdivision Plat”). 3.The Property has received permits and approvals for the subdivision and development of one hundred forty-two (142) lots designated as Lots 1 through 142 (the “Lots”) as depicted on the Subdivision Plat and on a footprint lot plat entitled: “Cider Mill Phase II, Footprint Lot Plan,” Plan Sheets PL4 and PL5 prepared by O’Leary-Burke Civil Associates, PLC, dated March 18, 2019, last revised _______________, and recorded in Map Slide ___ at Pages ____ of the City of South Burlington Land Records (collectively the “Footprint Plat”) and on a master plan entitled: “Cider Mill-Phase II South Burlington, Vermont Overall Master Plan Cider Mill Phase II,” prepared by O’Leary Burke Civil Associates, PLC, dated November 14, 2017, last revised January 26, 2018, and recorded in Map Slide 627 at Page 6 in the City of South Burlington Land Records (the “Master Plan”). 4.Lots 1-66 are single-family home lots (the “Single Family Lots”), Lots 67-100 are designed for use and occupancy by a carriage home on each building footprint lot (the “Carriage Home Lots”) and Lots 101- 142 are each designated for use and occupancy by an attached townhome on each building footprint lot (the “Townhome Lots”). The Lots are surrounded by open spaces depicted on a plan entitled: “Edgewood Planned Community Plan, Cider Mill- Phase II, South Burlington, Vermont,” dated September 9, 2022 and recorded in Map Slide ___ at Page _ (the “Planned Community Plan”) as: (a) “Common Element Area A, 21.0 Acres”; (b) “Limited Common Element A-1, 1.1 Acres”; (c) “Limited Common Element A-2, 0.7 Acres”; (d) “Limited Common Element A-3, 0.3 Acres”; (e) “Common Element Area B, 8.3 Acres”; (f) “Limited Common Element B- 1, 2.7 Acres”; (g) “Limited Common Element B-2, 0.8 Acres”; (h) “Limited Common Element C-1, 1.0 Acres”; (i) “Limited Common Element C-2, 1.1 Acres”; (j) “Common Element D, 2.6 Acres”; (k) “Limited Common Element D-1, 0.8 Acres”; (l) “Common Element E, 0.2 Acres”; (m) “Common Element G, 0.1 Acres”; (n) “Common Element I, 0.5 Acres”; (o) “Parkland 1, 0.3 Acres (Common Element Area H, 0.3 Acres)”; (p) “Parkland 2, 1.4 Acres (Part of Common Element Area F)”; (q) “Parkland 3, 0.11 Acres (Part of Common Element Area B)”; and (r) “Parkland 4, 1.0 Acres (Part of Common Element B)” (collectively, the “Open Space Parcels”). GRAVEL & SHEA DRAFT 10/24/22 - 2 - 5.Declarant has established an association known as the Edgewood of South Burlington Homeowners Association, Inc., a Vermont non-profit corporation (the “Association”). All of the owners of the Lots will be members of the Association. The Declarant intends to convey the Open Space Parcels (defined below) as shown on the Subdivision Plat, Footprint Plat and Master Plan to the Association, which will be responsible for the maintenance, repair and upkeep of these areas for the benefit of all owners. The Association will also be responsible for the maintenance, repair and replacement of additional common elements and facilities described in this Declaration, including common portions of the stormwater drainage system for the Planned Community (as defined below). N O W , T H E R E F O R E , Declarant hereby makes and executes this Declaration of Planned Community for the purposes stated herein and upon the following terms and conditions. ARTICLE 1 Submission; Defined Terms Section 1.1.Submission. Declarant hereby submits the Property to this Declaration and to the provisions of Title 27A V.S.A. § 1-101 et seq., known as the Vermont Common Interest Ownership Act, as amended from time to time (the “Act”), and hereby creates with respect to the Property a planned community to be known as “Edgewood” (the “Planned Community”) which shall be held, sold, transferred, conveyed, used, occupied, mortgaged, or otherwise encumbered subject to the reservations, covenants, conditions, restrictions, easements, assessments, and liens hereinafter set forth which are for the purpose of protecting the value and desirability of the Property, and which shall run with the title to the Property, and which shall be binding on all parties having any right, title or interest in or to the Property or any part thereof, and their respective heirs, legal representatives, successors and assigns, and shall inure to the benefit of each and every owner of all or any portion of the Property. Section 1.2.Definitions. Each capitalized term used herein without definition shall have the meaning specified in this Declaration or the Bylaws of Edgewood of South Burlington Homeowners Association, Inc. (the “Bylaws”), or if not otherwise defined in this Declaration or the Bylaws then as defined in the Act. (a)“Act” means the Vermont Common Interest Ownership Act, 27A V.S.A. §§ 1-101 et seq., as amended from time to time. (b)“Access Roads” means: Aurora Road, Russet Road, Liberty Lane, Lindamac Drive, Pippin Lane, Nadeaucrest Drive and Senator Street, until accepted by the City of South Burlington as public roads. (c)“Allocated Interests” means the Common Expense Liability and the votes in the Association. (d)“Assessment” means the amount assessed against the Owners of each Lot from time to time by the Association described below in the manner provided herein. GRAVEL & SHEA DRAFT 10/24/22 - 3 - (e)“Association” means Edgewood of South Burlington Homeowners Association, Inc., a Vermont non-profit corporation organized under § 3-101 of the Act. The ownership of each Lot shall include one membership in the Association. (f)“Board of Directors” or “Executive Board” means the board of directors of the Association charged with the management and operation of the Association, being the Executive Board as defined in the Act. (g)“Bylaws” means the Bylaws of the Association, as amended from time to time, a copy of which is included in Exhibit B. (h)“Common Elements” means all portions of the Property that are owned or will be owned or leased by the Association and all appurtenances thereto, other than the Lots. (i)“Common Expenses” means the expenditures made by or financial liabilities of the Association and any allocations to reserves. (j)“Common Expense Liability” means the liability for Common Expenses allocated to each Lot pursuant to § 2-107 of the Act. (k)“Declarant” means JJJ South Burlington, LLC, and its successors and assigns. (l)“Declaration” means this Declaration of Planned Community for Edgewood, as it may be amended from time to time, and includes all of the Exhibits hereto. (m)“Designated Limited Common Element Area” means the following areas depicted on the Planned Community Plan: (a) “Limited Common Element A-1, 1.1 Acres”; (b) “Limited Common Element A-2, 0.7 Acres”; (c) “Limited Common Element A-3, 0.3 Acres”; (d) “Limited Common Element B-1, 2.7 Acres”; (e) “Limited Common Element B-2, 0.8 Acres”; (f) “Limited Common Element C-1, 1.0 Acres”; and (g) “Limited Common Element C-2, 1.1 Acres”; (h) “Limited Common Element D-1, 0.8 Acres”. (n)“Development Rights” means any right or combination of rights reserved by the Declarant in this Declaration to create Lots, Common Elements or Limited Common Elements within the Planned Community, to subdivide Lots or convert Lots into Common Elements, or to add or withdraw real estate from the Planned Community. The Declarant’s Development Rights include the Special Declarant Rights defined in the Act. (o)“Dwelling” shall mean the single-family residential structure, carriage home or attached townhome structure, including garage, which is located on a Lot. (p)“First Mortgagee” means the holder of any first mortgage lien or the beneficiary under any first deed of trust encumbering a Lot. The term “mortgage” includes both mortgages and deeds of trust. (q)“Institutional”, as used in conjunction with “Lender”, “Holder”, “Mortgagee”, or “First Mortgagee”, means commercial and savings banks, savings and loan associations, trust companies and established mortgage companies, insurance companies, private mortgage GRAVEL & SHEA DRAFT 10/24/22 - 4 - insurance companies, pension funds, any corporation, including a corporation of or affiliated with the State of Vermont or United States Government, including, without limitation, the Vermont Economic Development Authority and its affiliates, or any federal credit unions, and other entities or agencies chartered under federal or state laws. (r)“Limited Common Elements” means a portion of the Common Elements allocated for the exclusive use or one or more, but less than all, of the Lots. (s)“Lot” means a Unit as defined in the Act, being a portion of the Property, other than the Common Elements, intended for individual ownership and use as permitted in this Declaration and as numbered and depicted as the Single Family Lots (Lots 1-66), Carriage Home Lots (Lots 67- 100) and Townhome Lots (Lots 101-142) as numbered and depicted on the Subdivision Plat and Footprint Plat. Each Lot shall contain one (1) Dwelling only. The ownership of each Lot shall include, and there shall pass with each Lot as an appurtenance thereto, membership in the Association. Each Lot shall, for all purposes, constitute real property which may be owned in fee simple and which may be conveyed, transferred or encumbered in the same manner as any other real property. (t)“Owner” means the Declarant or any other person who owns a Lot, but does not include a person having an interest in a Lot solely as security for an obligation. The Declarant is the owner of all Lot created by this Declaration until sold or conveyed to a third party. (u)“Open Space Parcels” means the following areas depicted on the Planned Community Plan: (a) “Common Element Area A, 21.0 Acres”; (b) “Limited Common Element A-1, 1.1 Acres”; (c) “Limited Common Element A-2, 0.7 Acres”; (d) “Limited Common Element A-3, 0.3 Acres”; (e) “Common Element Area B, 8.3 Acres”; (f) “Limited Common Element B-1, 2.7 Acres”; (g) “Limited Common Element B-2, 0.8 Acres”; (h) “Limited Common Element C-1, 1.0 Acres”; (i) “Limited Common Element C-2, 1.1 Acres”; (j) “Common Element D, 2.6 Acres”; (k) “Limited Common Element D-1, 0.8 Acres”; (l) “Common Element E, 0.2 Acres”; (m) “Common Element G, 0.1 Acres”; (n) “Common Element I, 0.5 Acres”; (o) “Parkland 1, 0.3 Acres (Common Element Area H, 0.3 Acres)”; (p) “Parkland 2, 1.4 Acres (Part of Common Element Area F)”; (q) “Parkland 3, 0.11 Acres (Part of Common Element Area B)”; and (r) “Parkland 4, 1.0 Acres (Part of Common Element B)” (v) “Plans” means the Subdivision Plat, the Footprint Plat, the Master Plan and the Planned Community Plan. (w) “Planned Community” means Edgewood, a Common Interest Community in which portions of the real estate are designated for separate ownership by the Owners and the remainder of the real estate is designated for ownership by the Association. (x)“Planned Community Plan” means a plan entitled: “Edgewood Planned Community Plan, Cider Mill- Phase II, South Burlington, Vermont,” dated September 9, 2022 and recorded in Map Slide ___ at Page _. GRAVEL & SHEA DRAFT 10/24/22 - 5 - (y)“Property” means the real property, together with all appurtenant easements and any improvements located thereon, which is declared and subjected to this Declaration by incorporation in the description set forth in Exhibit A, as amended from time to time. (z)“Rules and Regulations” means the provisions and limitations promulgated from time to time by the Board of Directors governing the use of the Common Elements and Lots. A Rule is any policy, guideline, restriction, procedure, or regulation which is not set forth in the Declaration or Bylaws which governs conduct or the appearance of the Property (aa)“Unit” means a Unit as defined in the Act, being a portion of the Property, other than the Common Elements, intended for individual residential ownership and use as permitted in this Declaration. As used in this Declaration, each Lot shall be defined as a Unit and shall be deemed to be created and declared as of the date of this Declaration. ARTICLE 2 Planned Community Property Section 2.1.Property. The Property consists of all and the same lands and premises, together with improvements thereon, and all easements and rights appurtenant thereto, as described in Exhibit A and as depicted on the Plans. Section 2.2.Description of Planned Community. As of the date hereof, the Declarant intends to develop the Property as a Planned Community consisting of one hundred forty-two (142) Lots, of which Lots 1- 66 are single-family home lots; Lots 67-100 are footprint lots which are each designed for use and occupancy by a carriage home and Lots 101-142 are footprint lots each designed for use and occupancy by an attached townhome, substantially as depicted on the Plans. Section 2.3.Boundaries. The perimeter boundaries of the Lots shall be the Lot lines depicted on the Plans. The lower and upper boundary of each Lot shall be determined by common law principles for the fee simple ownership of real property. If any pipe, wire, conduit, culvert, or any other fixture lies partially within and partially outside the designated boundaries of a Lot, any portion serving only that Lot is a Limited Common Element allocated solely to that Lot, and any portion of it serving more than one Lot or any portion of the Common Elements is a part of the Common Elements. Each Lot shall have the burdens and the benefits of the easements set forth in Article 5 herein. GRAVEL & SHEA DRAFT 10/24/22 - 6 - ARTICLE 3 Common Elements Section 3.1.Limited Common Elements. (a)A “Limited Common Element” is a portion of the Common Elements allocated for the exclusive use of one (1) or more than one (1), but fewer than all, of the Lots. (b)All fixtures, improvements or driveways designated to serve, attached to, or adjacent to a Lot, but located outside the Lot’s boundaries, are Limited Common Elements allocated exclusively to that Lot to which they are appurtenant. Except as otherwise provided herein, any expense for maintenance, repair or replacement relating to the Limited Common Elements shall be the responsibility of the Lot Owner benefitting from such Limited Common Element. (c)The Limited Common Elements for the Lots include any improvements located outside of the footprint lot shown on the Plans which serve only one Lot including, without limitation, driveways, walkways, patios, decks, yard areas, landscape beds, pipes, lines, ducts, conduits, or other apparatus (including all gas, electricity, telephone, cable television, water, sewer, foundation walls, foundation drainage, or air conditioning pipes, lines, ducts, conduits, or other apparatus) serving only one Lot. (d)The Limited Common Areas depicted on the Planned Community Plan: (a) “Limited Common Element A-1, 1.1 Acres”; (b) “Limited Common Element A-2, 0.7 Acres”; (c) “Limited Common Element A-3, 0.3 Acres”; (d) “Limited Common Element B-1, 2.7 Acres”; (e) “Limited Common Element B-2, 0.8 Acres”; (f) “Limited Common Element C-1, 1.0 Acres”; and (g) “Limited Common Element C-2, 1.1 Acres”; (h) “Limited Common Element D-1, 0.8 Acres” (the “Designated Limited Common Areas”) shall be a Limited Common Element appurtenant to the Units within such Designated Limited Common Areas. The maintenance and repair of the Designated Limited Common Areas and the improvements thereon will be performed by the Association, but will be assessed solely against the Owners of each respective cluster abutting the applicable Designated Limited Common Areas. Section 3.2.Common Elements. (a)The “Common Elements” include the Limited Common Elements and consist of all the Property and the improvements thereon and appurtenances thereto described in Exhibit A and depicted on the Plans except the Lots. (b)Except as otherwise set forth herein as to the use of the Limited Common Elements, the Common Elements shall remain undivided and shall be devoted to the common use and enjoyment of all Owners. No Owner or any other person shall maintain any action for partition or division thereof, unless the Property has been removed from the provisions of this Declaration pursuant to the Act. GRAVEL & SHEA DRAFT 10/24/22 - 7 - (c)Each Owner shall have a right to use the Common Elements in accordance with the purposes for which they were intended without hindering or encroaching upon the lawful rights of other Owners. Use of the Common Elements shall be subject to the limitations set forth herein for use of the Limited Common Elements and to the Rules and Regulations regarding use thereof as shall be established from time to time by the Board of Directors. (d)The Common Elements include, without limitation: (i)The following roadways: Aurora Road, Russet Road, Liberty Lane, Lindamac Drive, Pippin Lane, Nadeaucrest Drive and Senator Street until accepted by the City of South Burlington. (ii)The Open Space Parcels depicted on the Plans. (iii)All easements, restrictions and other encumbrances included with the Property as described in Exhibit A or depicted on the Plans. (iv)Utility lines, equipment and other improvements serving the Property or serving more than one Lot. (v)All improvements located within or serving Property shown on the Plans, including pedestrian paths, water lines, sewer lines, sewer pumps, the stormwater drainage system located on the Property, including drains, catch basins, closed lines and stormwater ponds, open lands, fences, trees, shrubs, landscaping, and other site improvements located on the Property, including the pedestrian path depicted on the Plans until accepted by the City of South Burlington as a pubic path.. Section 3.3.Allocated Interests. Each Lot will be assigned one (1) of the one hundred forty-two (142) memberships in the Association meaning and intending to create an Allocated Interest of 1/142 for each Lot. Except as otherwise set forth herein for the redetermination of the Allocated Interest by Declarant upon the filing of an amendment to this Declaration to exercise Development Rights and/or Special Declarant Rights, the Allocated Interests shall be of a permanent character and may not be changed without the consent of all Owners. A Lot’s Allocated Interest shall be determinative of all matters under the Act, this Declaration and the Bylaws which are properly determined by reference to the Allocated Interests, including, but not limited to the weight of each Owner’s vote for Association purposes and the allocation of Common Expenses. In the event Declarant exercises its Development Rights to add Lots to the Planned Community, the Allocated Interests shall be redetermined so that each Lot’s Allocated Interest shall be as a fraction, the numerator of which shall be one (1) and the denominator of which shall be the total number of Lots declared in the Planned Community. ARTICLE 4 Occupancy and Use Restrictions Section 4.1.Use of Lots. Lots shall be used for residential purposes only, and no trade or business of any kind may be carried on therein, except home occupations allowed by municipal bylaws, leases for residential purposes provided such leases are for a minimum term of six (6) months, and as otherwise provided in the Declaration and Bylaws. GRAVEL & SHEA DRAFT 10/24/22 - 8 - The occupancy of each Lot is subject to and benefitted by all easements, restrictions, and permits of record, as depicted on the Master Plan and as described in Exhibit A. Section 4.2.Alteration of Lots. An Owner may make improvements or alterations upon a Lot provided such improvements do not impair the Common Elements, Limited Common Elements, or infrastructure or utilities within any portion of the Planned Community, and provided prior written approval has been obtained from Declarant or Board of Directors as provided in Section 14.9. Other than the construction of Dwellings and related improvements on the Lots, no structural improvements may be made to the Common Elements or any other portion of the Planned Community by any Owner without the prior written approval of the Board of Directors. No Lots may be further subdivided by Owners other than Declarant; provided, however, that a boundary adjustment between two adjacent Lots where no new or additional Lots are created shall not be deemed to be a “subdivision” within the meaning of this provision. The boundaries between adjoining Lots may be relocated only in accordance with the terms and requirements of § 2-112 of the Act. Section 4.3.Declarant’s Reservations. Declarant reserves the right to use or maintain any portion of the Property as a sales office, management office, and/or model, and for signs until such time as Declarant has conveyed title to all of the Lots to third party Owners. The Owners and the Association shall not interfere with Declarant’s efforts to complete the improvements to the Property, including the construction of additional Dwellings, Lots, or to market and Lots and Dwellings, or with Declarant’s exercise of any Development Rights reserved in Article 13. Section 4.4.State and Municipal Laws. Each Owner shall comply with all applicable permits, codes, laws, ordinances, rules, and regulations of the State of Vermont and City of South Burlington affecting the use of the Lots and the Common Elements. Section 4.5.Interference with Others. No Lot shall be used or maintained in a manner which shall interfere with the comfort or convenience of occupants of other Lots or contrary to the Bylaws or the Rules and Regulations. ARTICLE 5 Easements Section 5.1.Easement for Access. Each Owner is hereby granted an easement, in common with Declarant and every other Owner, in all Common Elements for ingress and egress, including the Access Roads until accepted as municipal roadways, and all common driveways shown on the Plans, for utility service, and support, maintenance and repair of each Lot, subject to such reasonable Rules and Regulations of the Association. Each Lot is hereby benefited by an easement in common with others for ingress and egress through and over all Common Elements by persons lawfully using or entitled to the same. Such easements and rights are subject to the limitations upon the use of the Limited Common Elements as otherwise set forth herein. Section 5.2.Easement for Completion; Utilities. Declarant, for itself and its successors and assigns, reserves the right to grant and reserve easements and rights of way: (a) through, under, over and across the Common Elements and Lots owned by Declarant for the installation, maintenance, repair, replacement and inspection of lines and appurtenances for public or private sewer, water, drainage, gas, electriCity, telephone, television and other utility services to the Lots; (b) for the purpose of completing the construction of the Dwellings and other improvements on the Property; (c) for the purpose of erecting, maintaining and removing signs GRAVEL & SHEA DRAFT 10/24/22 - 9 - advertising Lots for sale or lease within the Property; and (d) through, under, over and across the Common Elements, Lots for the maintenance, repair, replacement and inspection of the stormwater, water and sewer systems for the Property, which easements shall be for the benefit of the Association after the period of Declarant control described below in Section 9.5. Section 5.3.Easement for Support. Each Lot and the Common Elements shall have an easement for lateral and subadjacent support from every other Lot and the Common Elements. Section 5.4.Additional Easements. The Board of Directors of the Association shall have the power (without submitting the same to the Owners for approval) to authorize the appropriate officers of the Association to execute any and all easements as it may deem desirable for the benefit of the Planned Community over, under, above or through any of the Common Elements for such purposes and upon such terms and the Board of Directors, in its sole judgment, deems desirable; provided, however, that all such easements shall be subordinate to the liens and rights of all mortgages and deeds of trust recorded prior in time thereto unless the mortgagee or trustee shall join therein. Section 5.5.Upkeep. Maintenance, repair and replacement of the Common Elements and of the Lots shall be provided for in this Declaration, the Bylaws of the Association and the Act. Each Owner shall afford to the Association and the other Owners, and to their agents or employees, access across his or her Lot reasonably necessary for those purposes. If damage is inflicted on the Common Elements or any Lot through which access is taken, the Owner responsible for the damage, or the Association if it is responsible, shall promptly repair such damage. Section 5.6.No Landscaping in Stormwater Easement Areas. Landscaping is prohibited within the stormwater easement areas as depicted on the Plans. ARTICLE 6 Damage or Destruction Section 6.1.Duty to Restore. Any portion of the Property for which insurance is required under 27A V.S.A. § 3-113, or for which insurance carried by the Association is in effect, whichever is more extensive, shall be repaired or replaced promptly by the Association unless: (a)The Planned Community is terminated, in which case § 2-118 of the Act shall apply; (b)Repair or replacement would be illegal under any state or local statute or ordinance governing health or safety; or (c)Eighty percent (80%) of the Owners vote not to rebuild. Section 6.2.Cost. The cost of repair or replacement in excess of insurance proceeds shall be a Common Expense. Section 6.3.Election Not to Rebuild. If the entire Planned Community is not repaired or replaced: GRAVEL & SHEA DRAFT 10/24/22 - 10 - (a)The insurance proceeds attributable to the damaged Common Elements shall be used to restore the damaged area to a condition compatible with the remainder of the Planned Community; and (b)Except to the extent that other persons will be distributees: (i) the insurance proceeds attributable to Limited Common Elements which are not rebuilt shall be distributed to the Owners of the Lots to which those Limited Common Elements were allocated, or to lienholders, as their interests may appear, in proportion to the Common Expense Liability of all of the Lots; and (ii) the remainder of the proceeds shall be distributed to all of the Owners or lienholders, as their interests may appear, in proportion to the Common Expense Liability of those Lots. ARTICLE 7 Termination; Condemnation Section 7.1.Requirements for Termination. The Planned Community may be terminated only by the recorded agreement of the Owners to which at least eighty percent (80%) of the votes in the Association are allocated and only in accordance with and subject to the provisions of § 2-118 of the Act. Section 7.2.Condemnation. If all or a part of the Planned Community is taken by any power having the authority of eminent domain, all compensation and damages arising from such taking shall be payable in accordance with § 1-107 of the Act. ARTICLE 8 Insurance Section 8.1.Property/Casualty Insurance. In order to ensure that sufficient reconstruction or repair funds, or both, will be available to the Association if and when needed, the Board of Directors shall obtain insurance for the Common Elements and Limited Common Elements together with separate insurance for the duplex Dwellings on the Townhome Lots on the Property, in such amounts as it shall determine, to provide not less than one hundred percent (100%) of the current replacement value (exclusive of foundations, land, excavations, and other items that are normally excluded from such insurance coverage) in the event of damage or destruction from the casualty against which such insurance is obtained. Such insurance shall protect against fire and all other hazards or perils customarily covered and the proceeds of such insurance shall be used only for the repair, replacement and reconstruction of the Common Elements unless determined otherwise in accordance with Article 6. The Board of Directors may elect such endorsements and deductible provisions as are, in its judgment, consistent with good business practice and the purpose for which the insurance is bought. Any such policy shall provide that it cannot be canceled or substantially changed, except upon at least ten (10) days’ written notice to the insured. The insurance for the duplex Dwellings on the Townhome Lots shall be exterior building structure insurance (master insurance policy) with an “all in” endorsement that shall insure all portions of the duplex Dwellings located from the sheetrock of the Dwellings outward to the exterior of the building, including, without limitation, sheetrock, interior partitions, studs, plumbing and electrical fixtures, roofing, siding, insulation and all portions of the Dwellings not included in the “interior portions” described below in Section 8.6. The cost of the separate insurance for the duplex Dwellings on the Townhome Lots shall be separately assessed against the forty- two (42) Owners of the Townhome Lots. Section 8.2.Liability Insurance GRAVEL & SHEA DRAFT 10/24/22 - 11 - . The Board of the Association shall also purchase broad form comprehensive liability coverage in such amounts and in such forms as prudent management practice suggests. A policy shall provide that it cannot be canceled or substantially changed, except upon at least ten (10) days’ written notice to the insured. Section 8.3.Other Provisions. Insurance policies carried pursuant to this Section shall provide that: (a)Each Owner is an insured person under the policy to the extent of liability, if any, arising out of his or her interest in the Common Elements or membership in the Association. (b)The insurer waives its rights to subrogation under the policy against any Owner or member of his or her household. (c)No act or omission by any Owner, unless acting within the scope of his or her authority on behalf of the Association, will void the policy or be a condition to recovery under the policy. (d)If, at the time of a loss under the policy, there is other insurance in the name of an Owner covering the same risk covered by the policy, the Association’s policy provides primary insurance. Section 8.4.Fidelity Coverage. The Association may obtain fidelity coverage against dishonest acts on the part of the Board, managers, employees and volunteers responsible for handling funds belonging to or administered by the Association in such amounts and in such forms as prudent association management practices suggest. Any such policy shall provide that it cannot be canceled or substantially changed, except upon at least ten (10) days’ written notice to the insured. Section 8.5.Premiums. Premiums and expenses for all insurance and fidelity coverage purchased by the Association shall be Common Expenses except that the separate insurance for the duplex Dwellings on the Townhome Lots shall be separately assessed solely against the forty-two (42) Owners of the Townhome Lots. Where insurance premiums are increased as a result of increased risk attributable to a particular Lot, the Owner of the Lot at issue shall be responsible for the increase, based upon the insurance carrier’s appraisal of risk inherent to said Lot. A levy made against a Lot for an increase in premiums may be enforced in the same manner as Common Expenses. Section 8.6.Separate Insurance. The Owner of each Lot (other than Townhome Lots) shall be responsible for obtaining, at his or her own expense, separate casualty and liability insurance for his or her own Lot and the Dwelling constructed thereon. The Owner of each duplex Dwelling on the Townhome Lots shall be responsible for obtaining, at his or her own expense, any additional insurance for interior portions of his or her own Dwelling not covered by the master insurance policy for the Townhome Lots. No insurance purchased by the Association shall in any way prejudice the right of each Owner of a Lot to obtain insurance for his or her own Lot and the Dwelling thereon for his or her own benefit, nor shall the insurance purchased by the Owner prejudice the Associations’ rights and protection under policies purchased by the Association under this Declaration. All such separate policies of insurance obtained by an Owner of a Lot shall contain a waiver of subrogation if available. Section 8.7.Adjustment; Insurance Trustee GRAVEL & SHEA DRAFT 10/24/22 - 12 - . Any loss covered by the Property policy shall be adjusted with the Association, but the proceeds for that loss are payable to any insurance trustee designated in the policy for that purpose, or otherwise to the Association, in either case to be held in trust for the Association, each Owner and such Owner’s mortgagee, as their interests may appear. ARTICLE 9 The Association Section 9.1.Authority. The business affairs of the Planned Community shall be managed by the Association. The Association shall be governed by the Bylaws, a copy of which is attached as Exhibit B, as they may be amended from time to time. Section 9.2.Membership. (a)Each Owner shall be assigned one (1) appurtenant and indivisible membership in the Association which may not be assigned, hypothecated, pledged or transferred in any manner except as an indivisible appurtenance to the Lot. Multiple or joint Owners of a single Lot shall be treated for all purposes as jointly owning and holding the one (1) membership appurtenant to that particular Lot. (b)A membership appurtenant to a Lot shall be initiated by either: (i) the recording of a deed in the City of South Burlington Land Records conveying a Lot to a purchaser; or (ii) the issuance of a certificate of occupancy by the City of South Burlington for a Dwelling constructed on a Lot, whichever sooner occurs. Once a membership is initiated, liability for Common Expenses shall automatically commence. Membership in the Association shall be owned and held by each Owner, including Declarant with respect to unsold Lots. (c)The number of memberships in the Association shall automatically increase if additional Lots are declared and subjected to this Declaration. No membership rights or liability for Common Expenses shall be allocated or attributed to a Lot until the Lot is either sold by Declarant to a third party or has been issued a certificate of occupancy. (d)Liability for Common Expenses shall be assessed among the Owners in accordance with their Allocated Interest, unless altered as hereinafter set forth in Section 9.6. Section 9.3.Voting Rights. During the period of Declarant control (defined below in Section 9.5), and as authorized by 27A V.S.A. § 3-103(d)(1), Declarant shall appoint the members of the Board of Directors of the Association and the Lot Owners shall not have the right to elect the Board of Directors. Lot Owners shall be entitled to vote for the Board of Directors: (i) sixty (60) days after the sale by Declarant of three-fourths (¾ths) of the proposed one hundred forty-two (142) Lots in the Planned Community; (ii) two (2) years after the Declarant has ceased to offer Lots for sale in the ordinary course of business; (iii) two (2) years after the exercise of any Development Rights to add new Lots; or (iv) upon Declarant amending the Bylaws to make all memberships voting memberships, whichever is the first to occur. Except as set forth above, each Lot Owner, or one of the Owners if record title in a Lot is held by more than one person, shall be entitled to vote in any meeting of the membership. Section 9.4.Board of Directors. The initial Board of Directors of the Association shall be three (3) in number and shall be appointed by Declarant acting in its sole discretion and shall serve at the pleasure of GRAVEL & SHEA DRAFT 10/24/22 - 13 - Declarant so long as Declarant retains control of the Association. Notwithstanding the foregoing, at least twenty- five percent (25%) of the members of the Board of Directors shall be elected by Owners who are not Declarant within sixty (60) days after twenty-five percent (25%) of the Lots are conveyed to Owners (other than Declarant). At least thirty-three percent (33%) of the members of the Board of Directors shall be elected by Owners who are not Declarant within sixty (60) days after fifty percent (50%) of the Lots are conveyed to Owners (other than Declarant). After the period of Declarant control (described below), each member of the Board shall be an Owner of a Lot. Section 9.5.Declarant Control. Declarant will convey to the Association marketable title to the Common Elements by standard Warranty Deed(s) and/or Easement Deed(s) for One Dollar ($1.00), and the Association will accept said title. Said conveyances of title (and the transfer of control of the Association which may or may not be made at the same time) shall be made: (a) sixty (60) days after the sale by Declarant of three- fourths (¾ths) of the proposed one hundred forty-two (142) Lots in the Planned Community; (b) two (2) years after Declarant has ceased to offer Lots for sale in the ordinary course of business; (c) two (2) years after the exercise of any Development Right to add new Lots; or (d) upon the voluntary relinquishment by Declarant, whichever is the first to occur. As long as Declarant retains control of the Association, no person may record any declaration or amendment to this Declaration or similar instrument affecting any portion of the Planned Community without Declarant’s written consent thereto, and any attempted recording without compliance herewith shall result in such or similar instrument being void and of no force and effect unless subsequently approved by recorded consent signed by Declarant. Section 9.6.Miscellaneous. In addition to any other powers and authority given to the Association or its Board of Directors in the Bylaws or in this Declaration: (a)Common Expenses of the Association shall be borne among the Owners of the Lots in accordance with their Allocated Interest, except that the Board of Directors may allocate expenses among the Lots on a different basis if the basis is reasonably related to the benefits of the services provided. In addition, allocation of expenses to Lots constructed and owned by Declarant, but not occupied, may be less than Assessments allocated to Lots which have been conveyed to persons other than Declarant. (b)The Board of Directors may enter into a management agreement to operate the affairs of the Association until such time as all memberships in the Association become voting memberships. Within two (2) years after all memberships become voting memberships, any management agreement, maintenance, operations or employment agreement entered into by Declarant may be terminated by the Association without cause upon giving ninety (90) days’ notice; provided, however, that any such agreement that is unconscionable or was not bona fide may be terminated on ninety (90) days’ notice before the expiration of the two-year period. In the event of a conflict between the above provisions and any requirements imposed by Institutional Mortgagees, the requirements of the Institutional Mortgagees shall control. (c)The Association shall maintain current copies of this Declaration, the Bylaws and any Rules and Regulations concerning the Planned Community, as well as its own books, records and financial statements. These will be available for inspection by Owners or First Mortgagees. GRAVEL & SHEA DRAFT 10/24/22 - 14 - ARTICLE 10 Assessment and Collection of Common Expenses Section 10.1.Definition of Common Expenses. Common Expenses shall include: (a)Expenses of administration, maintenance and repair or replacement of the Common Elements; (b)Expenses declared to be Common Expenses by the Board of Directors or by the Act; (c)Expenses agreed upon as Common Expenses by the Association; and (d)Such reserves as may be established by the Association, whether held in trust or by the Association, for repair, replacement or addition to the Common Elements or any other real or personal property acquired or held by the Association. Section 10.2.Assessment and Apportionment of Common Expenses. Except as otherwise provided herein, all Common Expenses shall be assessed against all Lots in accordance with their Allocated Interest in the Common Expenses as set forth in this Declaration. If the Common Expense Liability is modified due to a redetermination of the Allocated Interests, any Assessments for Common Expenses not yet due shall be recalculated in accordance with the modified Common Expense Liability. Section 10.3.Common Expenses Attributable to Fewer Than All Owners. The following expenses may be assessed against fewer than all of the Owners: (a)Any Common Expense for services provided by the Association to an individual Owner at the request of the Owner shall be assessed against the Lot which benefits from such service; (b)Any insurance premium increase attributable to a particular Lot by virtue of activities or construction of the Lot shall be assessed against that Lot; (c)Assessments to pay a judgment against the Association may be made only against the Lots in the Common Interest Community at the time the judgment was rendered, in proportion to their Common Expense Liabilities; (d)Any Common Expense arising from the misconduct of an Owner; (e)Fees, charges, late charges, fines and interest charged against an Owner pursuant to the Declaration, the Bylaws, the Rules and Regulations of the Association and the Act are enforceable as Common Expense Assessments; (f)Any expense incurred by the Board of Directors and/or the Association on behalf of an Owner or as a result of an Owner’s failure to perform any of the obligations under Section 11.2(b) hereof is a Common Expense. (g)Any common expense benefiting fewer than all of the Lots or their Owners may be assessed exclusively against the Lots or Lot Owners benefited. Section 10.4.Lien GRAVEL & SHEA DRAFT 10/24/22 - 15 - . The Association shall have a statutory lien on a Lot in accordance with § 3-116 of the Act for any Assessment imposed against an Owner, all as set forth in the Bylaws. Section 10.5.Budget Adoption and Ratification. The budget for the Association shall be adopted pursuant to the procedures set forth in the Bylaws, as set forth in the Bylaws. Section 10.6.Certificate of Payment of Common Expense Assessments. The Association, upon written request, shall furnish to an Owner a statement in recordable form setting forth the amount of unpaid Assessments against the Lot and any other matters required by § 4-109 of the Act. The statement shall be furnished within ten (10) days after the receipt of the request and is binding on the Association, the Board of Directors and every Owner. Section 10.7.Payment of Common Expenses. All Common Expenses assessed under Section 10.2 and Section 10.3 shall be due and payable as determined by the Board of Directors. Any past due payments shall accrue interest at the legal rate of twelve percent (12%) per annum. ARTICLE 11 Maintenance Section 11.1.Maintenance of Common Elements. The Association shall maintain and keep in good repair at all times the Common Elements, including, without limitation, the open space areas and neighborhood park depicted on the plan of land entitled: “Cider Mill - Phase II, Open Space Management Plan,” prepared by O’Leary-Burke Civil Associates, PLC, dated October 5, 2013, last revised September 28, 2022, and recorded in Map Slide _____ at Page _____ of the City of South Burlington Land Records (the “Open Space Management Plan”), including stormwater basins, lighting, landscaping, utility lines and facilities, and including the Limited Common Elements (other than those facilities and improvements located within an accepted public right of way), except for such maintenance of the Limited Common Elements as the Board of Directors shall, from time to time, delegate to the Owners appurtenant thereto and until such time as the City of South Burlington shall accept responsibility for all or a portion of such improvements. The maintenance shall be performed in a professional manner customary to the respective trade. In addition, the Association shall have the right, but not the obligation, to maintain property not owned by the Association where the Board of Directors has determined that such maintenance would benefit the Owners, and the Association shall have the obligation to maintain such property not owned by the Association as required by any permit or approval of the Planned Community by any governmental agency. Section 11.2.Open Space Management Plan. The Common Elements are subject to an Open Space Management Plan for the areas as depicted Open Space Management Plan, specifically: (a)The areas depicted as Neighborhood Park Land on the Open Space Management Plan shall be maintained by the Association. (b)The areas depicted on the Open Space Management Plan as Northwestern Undeveloped Space, Northeastern Undeveloped Space, Mid Site Undeveloped Space and Western Undeveloped Space, including all wetlands, wetland buffers and adjoining areas shall be left to vegetate naturally and shall remain open in perpetuity. [any primitive trails allowed? GRAVEL & SHEA DRAFT 10/24/22 - 16 - (c)The areas depicted on the Open Space Management Plan as Stormwater Ponds shall be maintained by the Association until such time as they are accepted by the City of South Burlington. (d)The area depicted on the Open Space Management Plan as Undeveloped Space For Possible Future Connection to Nadeau Parcel shall be maintained by the Association. However, Declarant reserves a Development Right to use the space for any future development of the Nadeau Parcel. Section 11.3.Maintenance of Lots. (a)Each Owner shall maintain, repair and replace, at his or her own expense, all portions of his or her Lot and the Dwelling thereon in good repair. Such maintenance shall be consistent with this Declaration. In addition, each Owner shall be responsible for paying the real estate taxes assessed against the Lot, for insuring the Lot and all improvements thereon, and for maintaining all private electricity, telephone, cable television and water or sewer pipes, lines, ducts, conduits or other apparatus which serve only the Lot. However, the Board of Directors may, by rule, decide to maintain any portion of the Lots. (b)In addition, each Owner of a Carriage Home Lot or Townhome Lot shall be responsible for maintaining, repairing and replacing any driveway, walkway, patio or deck located outside a Carriage Home Lot or Townhome Lot which serves only the Owner’s Lot and all landscape plantings located within the Lot or surrounding decks or patios. All other landscaping located within the Common Elements shall be maintained, repaired and replaced by the Association. In addition, in the event a Unit Owner of a Carriage Home Lot or Townhome Lot obtains approval under Section 14.9 to install a fence around their rear yard area, the area within such fences shall be a Limited Common Element appurtenant to the respective Lot and the Lot Owner shall be responsible for maintaining the fence and the area within the fence, with the exception of the lawn that will be mowed by the Association’s landscaping contractor as long as the Owner maintains a gate that is at least 52” wide to allow access for the mowers, it being the intention that the Owner will be responsible for all other items located within the fenced area, such as flower beds. In addition, the Owner of each attached Dwelling on a Townhome Lot shall be responsible for paying a pro rata portion of the maintenance, repair and replacement costs for all shared party walls, roofs, siding or other shared construction elements that are shared with any other Dwellings that are attached to the Owner’s Dwelling. Each Townhome Lot Owner’s pro rata share of such costs shall be a fraction, the numerator of which shall be one (1) and the denominator of which shall be the number of attached Dwellings forming a single building. For example, if a Townhome Lot Owner’s Dwelling is part of an attached structure containing a total of two (2) attached Dwellings, the Townhome Lot Owner shall be responsible for one-half (½) of the costs to maintain any shared party walls, roofs, siding or other shared construction elements to the extent not covered by the Association maintenance described above. (c)In the event that an Owner should fail to perform any obligation required in Section 13.1(a) and Section 13.1(b) hereof as may be determined by the Board of Directors, then the Board of Directors may provide for the performance of any such neglected obligation by whatever reasonab GRAVEL & SHEA DRAFT 10/24/22 - 17 - le means it may determine in its sole discretion. In case of emergency as determined by the Board of Directors, it may act immediately, and in all other cases the Board of Directors may act hereunder following thirty (30) days written notice to the Owner. All expenses incurred by the Association as a result of taking action under this Section shall be chargeable to the Owner as provided for herein. ARTICLE 12 Compliance and Default Section 12.1.Compliance. Each Owner shall be governed by and with all of the provisions of this Declaration, the Bylaws, any Rules and Regulations established by the Board of Directors of the Association, as the same may be amended from time to time, and the Act. In addition to the remedies provided by the Act, the Declaration or the Bylaws, the failure of an Owner to comply with any of said requirements shall entitle the Association, acting through its Board of Directors or through its agent or an aggrieved Owner, to the following relief after appropriate notice to the defaulting Owner: (a)Liability. An Owner shall be liable for the expenses of any maintenance, repair or replacement rendered by the Owner’s gross negligence or by that of any employees, agents, lessees or other invitees of the Owner. No Owner shall conduct any activity which may result in an increase in insurance rates occasioned by the use, misuse, occupancy or abandonment of a Lot or its appurtenances, or of the Common Elements. (b)Fines. The Board of Directors of the Association shall have the right to impose upon a defaulting Owner a reasonable fine, commensurate with the severity of the violation of any of the provisions of the above-referenced documents, which fine shall become a continuing lien against the Lot of the defaulting Owner enforceable in the manner provided by the Act and the Bylaws. In addition, the Association may suspend the right or privilege of a Unit Owner who fails to pay an Assessment, but in so doing the Association may not deny a Unit Owner the right to occupy their Unit, suspend the Unit Owner’s right to vote, prevent the Unit Owner from seeking election to the Board, or withhold services to the Unit Owner if the effect would be to endanger the health, safety or property of any person. (c)Injunctions. The Board of Directors of the Association or any aggrieved Owner shall have the right or remedy by appropriate legal proceedings, either at law or in equity, to abate or enjoin the continuance of any violation of the provisions of the above-referenced documents, including, without limitation, an action to recover any sums due for money damages, injunctive relief, foreclosure of a lien for payment of all Assessments, or any combination thereof, and any other relief afforded by a court of competent jurisdiction. Such remedies shall be deemed cumulative and shall not constitute an election of remedies. The failure of the Association or its Board of Directors to enforce any rights, covenants or conditions of the Planned Community shall not constitute a waiver of the right to enforce such rights, covenants or conditions in the future. There shall be and there hereby is created and declared to be a conclusive presumption that any violation or breach, or any attempted violation or breach, of any of the covenants and restrictions of the Declaration or the Bylaws shall so damage the Planned Community and its property values that it cannot be adequately remedied by action at law or exclusively by recovery of damages. GRAVEL & SHEA DRAFT 10/24/22 - 18 - (d)Costs and Attorney Fees. In any proceeding of an alleged failure of an Owner to comply with the terms of this Declaration, the Bylaws or the Rules and Regulations of the Association, the prevailing party shall be entitled to recover the costs of the proceeding and reasonable attorney fees. Section 12.2.Rights of Owners. Each Owner shall have a right of action against the Association for failure of the Association to comply with the provisions of this Declaration, the Bylaws, the Rules and Regulations of the Association, or the decisions made by the Association; provided, however, that the Association shall have the right to use its discretion regarding an enforcement action pursuant to the provisions of Section 3-102(g) of the Act. Section 12.3.Waiver. No provision of this Declaration shall be deemed to have been waived by reason of any failure to enforce regardless of the occurrence of violations or breaches from time to time. ARTICLE 13 Declarant’s Reserved Development Rights Section 13.1.Easement for Completion. For so long as Declarant owns any interest in the Property, including reserved Development Rights, Declarant hereby reserves for itself, and its successors and assigns, easements, rights of way and licenses, and the right to grant easements, rights of way and licenses to others, over, under, across and through all of the Property (other than Lots which have been sold by Declarant to Owners) for the purpose of: (a)Completing the improvements to the Property described in this Declaration, including Dwellings, roads, driveways, sewer, water and other utility lines, stormwater drainage systems, sidewalks, fences, trees, shrubs, landscaping, equipment and improvements, and for the purpose of sales activities such as erecting signs advertising the Planned Community or the sale of Lots within the Planned Community; (b)Providing utility service to the Property; (c)Compliance with permits, laws, rules, regulations, ordinances and other governmental requirements; or (d)Exercising Development Rights reserved herein. Section 13.2.Alteration of Lots. Declarant reserves the right to alter the layout and arrangement of the Lots, said right to last as long as Declarant controls the Association or owns any of the Lots so altered, including, without limitation enlarging the size of the footprint lots or enlarging and converting some or all of the Carriage Home Lots into Single-Family Lots (and all other conversions of one Dwelling type to another). If Declarant shall make any such alterations, they shall be reflected in an amendment to this Declaration. Declarant may make any structural alterations within or affecting any Lot, as long as Declarant owns said Lot, without the prior written consent of the Board of Directors. Declarant specifically reserves the right to unilaterally amend this Declaration to reflect any changes made under this Article 13 or otherwise pursuant to reserved Development Rights and/or Declarant Rights, including but not limited to the alteration of Lots, the enlargement of the planned community, the granting of easements, and the revision or revisions of plats and plans, permits, descriptions, and definitions as may be necessary, in Declarant’s sole discretion, to reflect such alterations and/or enlargements or other exercises of Development Rights reserved in this Declaration. GRAVEL & SHEA DRAFT 10/24/22 - 19 - Section 13.3.Amendment to Enlarge Planned Community. For as long as Declarant owns any interest in the Property, including reserved Development Rights, Declarant reserves for itself, and its successors and assigns, the absolute right, which may be exercised at any time or from time to time in Declarant’s sole discretion, to develop and improve all of the Property. The location and configuration of the Lots proposed for the Property on the Plans may be modified by Declarant in its sole discretion and the Declarant reserves the right, in its sole discretion, at any time from time to time to amend this Declaration to make such modifications. Declarant also reserves the right, in its sole discretion, at any time or from time to time to amend this Declaration to complete the Planned Community or to subject additional property to this Declaration, including, without limitation, the lands identified as Future Development on the Master Plan which are being excluded from the Planned Community at this time, individually or in conjunction with the additional adjacent lands depicted on the Master Plan, and to develop the Future Development parcel and adjacent lands for the maximum density allowed under the City of South Burlington zoning and subdivision regulations and to subject such lands and corresponding lots and units to this Declaration. Declarant’s reserved Development Rights shall be exercised within twenty (20) years after the transfer of Declarant Control as described herein. Section 13.4.Easement for Further Development. For as long as Declarant owns any interest in the Property, including reserved Development Rights, Declarant hereby reserves for itself, and its successors and assigns, without restriction or limitation, perpetual non-exclusive easements, rights of way and licenses, and the right to grant easements, rights of way and licenses, over, under, across and through all of the Property (other than Lots which have been sold by Declarant to Owners) for the purpose of storing building materials, supplies and equipment used in improving the Property; construction, maintenance, repair and replacement of Dwellings, roads, driveways, sidewalks, pedestrian paths, fences, trees, shrubs, landscaping, utility lines, equipment and other improvements included as part of or necessary to serve the portion of the Property being Developed by Declarant and any Dwellings; making future connections, hookups and tie-ins to utility lines, equipment and other improvements constructed to serve the Property, Dwellings, or other improvements located thereon and for the future use and connection by the adjacent lands depicted as Future Development for ingress and egress and all manner of utilities for the maximum number of homes or units allowed on such lands under the City of South Burlington zoning and subdivision regulations, including reserved easements over all roadways until accepted as public streets by the City of South Burlington. The easements, rights of way and licenses reserved here under shall be sufficient in scope to permit development, use and occupancy on the Property of as many Dwellings and Lots as Declarant, in its sole discretion, shall determine; provided, however, that Declarant will not build more than two hundred fifty (250) Lots on the Property. Section 13.5.Permits and Approvals for Further Development. Each Owner acknowledges, by acceptance of a Warranty Deed, that Declarant has the present right to develop one hundred forty-two (142) Lots on the Property, and that Declarant may also, in the future, seek to develop the Property in a different manner, subject to the specific limitations set forth in this Declaration, including the right to construct additional lots and units on the Future Development parcel and adjacent lands depicted on the Master Plan for the maximum number of units allowed under the City of South Burlington zoning and subdivision regulations. In such event, neither the Association nor any Owner may take any action or adopt any Rules that will interfere with or diminish any Development Rights or Special Declarant Rights without the prior written consent of Declarant, nor shall the Association or any Owner oppose, either directly or indirectly, such development and shall cooperate or cause the Association to cooperate with such development by executing permit applications if necessary. Section 13.6.Amendments Under This Article. Any amendments to this Declaration permitted by this Article need to be signed and acknowledged only by Declarant, and it shall be deemed that the Association, Owners, lienholders or mortgage holders have voted for such amendment or amendments. In addition, during GRAVEL & SHEA DRAFT 10/24/22 - 20 - the period of Declarant control, Declarant may make whatever amendments it deems advisable, in its sole discretion, without the consent of any person. Section 13.7.Transfer of Declarant’s Development Rights. Declarant’s reserved Development Rights may be transferred in accordance with § 3-104 of the Act. No amendment to this Declaration may be made to diminish or alter Declarant’s reserved Development Rights and/or Special Declarant Rights without the written consent of Declarant. Section 13.8.Specific Reservation. Declarant specifically reserves the right to use the area depicted on the Open Space Management Plan as Undeveloped Space For Possible Future Connection To Nadeau Parcel as access to the Nadeau Parcel or any other lands adjacent to the Property. Section 13.9.Special Declarant Rights. The Declarant specifically reserves the rights set forth in Title 27A V.S.A. 1-103(28), which include: the right of the Declarant to: complete improvements indicated on plats and plans filed with the Declaration as provided in § 2-109 of Title 27A of the Vermont Statutes or to complete improvements described in the public offering statement pursuant to s§ 4-103(a)(2) of Title 27A of the Vermont Statutes; to exercise any declarant right pursuant to § 2-110 of Title 27A of the Vermont Statutes; to maintain sales offices, management offices, signs advertising the common interest community, and models; to use easements through the common elements for the purpose of making improvements within the common interest community or within real estate which may be added to the common interest community to; to make the common interest community subject to a master association; to merge or consolidate a common interest community with another common interest community of the same form of ownership; to appoint or remove any officer of the association or any master association or any executive board member during any period of declarant control; to control any construction, design review, or aesthetic standards committee or process; to attend meetings of the unit owners and, except during an executive session, the executive board; and to have access to the records of the association to the same extent as a unit owner. ARTICLE 14 Covenants and Environmental Restrictions Section 14.1.Use of Property Subject to Permits. The Property may be used and conveyed only in accordance with the conditions of the Vermont Land Use Permit for the development of the Property and the permits and approvals referenced therein; the terms and conditions of the City of South Burlington Development Review Board approval; all protective covenants and easements and rights of way for utilities of record; any notices of conditions of record in the City of South Burlington Land Records, and as all of the foregoing may be amended from time to time as set forth on Exhibit A. Section 14.2.Promulgation of Rules and Regulations. The Board of Directors may, from time to time, without the consent of the members, promulgate, modify or delete use restrictions and Rules and Regulations applicable to the Lots and Common Elements. Such Rules and Regulations and use restrictions shall be binding upon all Owners and occupants until and unless overruled, canceled or modified in a regular or special meeting by the vote of the members holding a majority of the total votes in the Association. Such Rules and Regulations and use restrictions may impose stricter standards than those contained in this Section. The Association, acting through its Board of Directors, shall having standing and the power to enforce such standards. Section 14.3.Use. Only one (1) single family Dwelling, and improvements appurtenant thereto, shall be erected or maintained on each Lot. GRAVEL & SHEA DRAFT 10/24/22 - 21 - Section 14.4.Animals. No animals shall be permitted on the Property other than dogs and other domestic pets. All dogs and other domestic pets shall be in the control of the Owner at all times while on the Property. Owners are responsible for immediate cleanup of any waste in the public thoroughfares and/or damage to Common Elements. Owners are also responsible for all impoundment costs incurred in the control of dogs or other domestic animals while on the Common Elements. In addition, Owners are subject to the animal control ordinances of the City of South Burlington. Section 14.5.Subdivision. No Lot shall be further subdivided by an Owner for sale purposes or otherwise. Section 14.6.Signs. No signs, signboards or advertising structures of any kind shall be erected or placed on the Property at any time except for signs advertising the Lot for sale. Section 14.7.Rubbish. There shall be no disposal of trash, rubbish or garbage or the burning of same on any portion of the Property. Section 14.8.Grading and Drainage. The grading and/or drainage pattern of any Lot or Common Element in the Planned Community shall not be altered for any reason due to each Lot’s necessary conformance with the plans submitted and approved by the City of South Burlington and the District No. 4 Environmental Commission. Section 14.9.Architectural Control. Pursuant to Sections 2-105(a)(15), 3-103 and 3-106 of the Act, except for Dwellings or improvements constructed or installed by the Declarant, no building, fence, wall or other structure shall be commenced, erected, maintained or placed on a Lot, nor shall any addition or external alteration be made, until the design and location or alterations have been approved in writing by the Declarant or, upon transfer of Declarant’s control of the Association, by the Board. No approval shall be required for the design and location of any Dwelling or improvement constructed by Declarant on the Property. Any Owner seeking approval under this Section shall provide the Declarant or Board, as the case may be, with a written request for approval which shall include a narrative description and site plan or drawing depicting the proposed improvement or improvements. The Declarant or Board, as the case may be, shall approve or deny a written request for approval within thirty (30) days after receipt and, in the event the Declarant or Board fail to issue a decision within said thirty (30) day period, the written request for approval shall be deemed to be approved. Notwithstanding the foregoing, this section shall not preclude the installation solar collectors on the roof of a Dwelling provided that: (a) such roof has an orientation to the south or within 45 east or west of due south; and (b) the solar collectors are flush with the roof shingles. Section 14.10.Satellite Dishes. No antennas shall be installed on a Lot or on the exterior of any Dwelling erected thereon. One (1) dish type receiver no greater than eighteen inches (18”) in diameter or length, may be installed on the side or rear exterior wall of any Dwelling or in the rear or side yard of the Lot except where a side yard has frontage on a public street. Section 14.11.Vehicles and Garage Use GRAVEL & SHEA DRAFT 10/24/22 - 22 - . Garages are restricted to use by the Lots for which they belong as a parking space for vehicles. Garages may not be converted to living space. No unregistered motor vehicle, or any boat, boat trailer, snowmobile, snowmobile trailer, camper, truck (other than pick-up trucks) or recreational vehicle may be parked, stored or maintained on any portion of the Property. The parking of motor vehicles along the roadway or in other spaces which have not been designated for parking shall be strictly prohibited. Section 14.12.Trees. Except for trees removed by Declarant, no tree six inches (6”) or larger on the stump shall be cut on the Property until approved in writing by Declarant or, after Declarant transfers control to the Association, by the Board of Directors. All Owners shall comply with the City of South Burlington zoning regulations for tree planting. Section 14.13.Lighting. Except for seasonal decorative lights, all exterior lights must be installed and used in a manner which will not unduly disturb surrounding Owners and does not violate any permit conditions and must be pre-approved by the Board of Directors. Section 14.14.On-Site Fuel Storage. No on-site storage of gasoline or heating or other fuels shall be permitted on any part of the Property, except for propane, and not more than ten (10) gallons of other fuel stored on each Lot for emergency purposes and operation of generators, snow blowers, lawn mowers and similar tools or equipment. Section 14.15.Outbuildings. No structures of a temporary character, tents, shacks, barns, trailers, garages, unfinished basements or other outbuildings shall be occupied as living quarters on the Property. Section 14.16.Occupants Bound. All provisions of the Declaration and any Rules and Regulations or use restrictions promulgated pursuant thereto which govern the conduct of Owners and which provide for sanctions against Owners shall also apply to all occupants of the Property. Section 14.17.Leasing. Lots may be leased for residential purposes. All leases shall have a minimum term of six (6) months. All leases shall require, without limitation, that the tenant acknowledge the receipt of a copy of the Declaration, Bylaws, use restrictions and Rules and Regulations of the Association. The lease shall also obligate the tenant to comply with the foregoing and shall provide that in the event of noncompliance the Board of Directors, in addition to any other remedies available to it, may, in the event the Owner shall fail to initiate and reasonably maintain an action to evict the tenant after written request to do so by the Association, evict the tenant on behalf of the Owner and specifically assess all costs associated therewith against the Owner and the Owner’s property. Section 14.18.Energy Conservation Measures. (a)Without the prior written consent of the Vermont District No. 4 Environmental Commission, or its successor, no alteration may be made to any Dwelling on a Lot which would reduce the effect of the water conserving plumbing fixtures or insulation, including low-flush toilets, low-flow showerheads and aerator or flow-restricted faucets. All leases shall require maintenance of same and prohibit replacement with non-water conserving fixtures. GRAVEL & SHEA DRAFT 10/24/22 - 23 - (b)All heated structures shall be constructed to meet the Residential Building Energy Standards (RBES) in effect at the time of construction. The installation and/or use of electric resistance space heating is specifically prohibited. Section 14.19.Landscaping. The Association shall continually maintain all Common Elements, facilities and landscaping substantially as approved by the City of South Burlington Development Review Board and the District No. 4 Environmental Commission. All dead or diseased landscape plantings shall be replaced as soon as reasonably possible. Section 14.20.Special Covenants. The following special covenants shall apply: (a)The Class Two wetlands and associated fifty foot (50’) buffer zones shown on the Plans will remain in a natural undisturbed manner with the exception of the proposed impacts as shown on the Plans. There shall be no draining, dredging, tilling, grading, dumping of yard waste or other debris and refuse, alterations of the water flow, cutting, mowing, clearing or removal of vegetation within the wetland or buffer zone with the exception of the proposed impact areas as approved by the Conditional Use Determination for this Property. Construction of paths into or through the wetlands and wetland buffers is specifically prohibited. Allowed uses within the wetlands and their buffer zones are to be in conformance with Section 6 of the Vermont Wetland Rules effective February 23, 1990. These restrictions shall run with the land and are enforceable under the Vermont Wetland Rules and the associated Conditional Use Determination for this Property. (b)Declarant will construct the stormwater treatment systems on the Property in accordance with the approved plans and permit conditions. After construction, the stormwater treatment systems shall be maintained, repaired and replaced by the Association until accepted by the City of South Burlington, if ever, and by the acceptance of a Deed for a Lot each Owner shall consent to the Association’s responsibility for such obligations. After construction, Declarant shall have no further obligations for the maintenance, repair or replacement of the stormwater systems, except for construction defects occurring prior to the delivery of the systems to the Association. (c)Notice is hereby given that portions of the Property are adjacent to existing agricultural lands that will be used for agricultural purposes. These agricultural uses may include, without limitation, plowing, planting, fertilizing and the of agricultural chemicals, pesticides and herbicides in the course of cultivating, harvesting, storing and transporting agricultural feed or product. Consistent with this notice, all Lots are conveyed subject to a perpetual easement for any noise, odors, dust and/or by-products and impacts that may occur in the course of conducting accepted agricultural and best-management practices on the nearby lands, and for any noise, odors or dust. All Owners, by the acceptance of their Deed, waive any objection to impacts arising from accepted agricultural and best-management practices which are consistent with the rules established pursuant to 6 V.S.A., Chapter 215, and are further notified that agricultural activities which are consistent with accepted agricultural and best-management practices do not constitute a nuisance. (d)Declarant reserves the right to own, develop, transfer or preserve the parcel depicted as Future Development on the Master Plan for the maximum density allowed under the City of South Burlington zoning and subdivision regulations which, in the sole discretion of GRAVEL & SHEA DRAFT 10/24/22 - 24 - Declarant may be developed either as a separate development or as an affiliated development that will be included as part of the Property and subjected to this Declaration. In connection with the possible future development of such parcel, Declarant also reserves easements over all roadways until accepted as public streets by the City of South Burlington, and over the Common Elements as shown on the Plans, for all manner of ingress, egress and utilities to and from such parcel for use by the maximum number of homes or units that may be permitted on such parcel, including, without limitation, the right to expand the sewer pump stations for the Property to accommodate the future development on the Future Development parcel and/or the right to allow additional connections by adjoining property owners. Accordingly, all Owners are on notice that the Future Development parcel may not remain open and in agricultural use and may be developed for the maximum number of units allowed under the City of South Burlington zoning and subdivision regulations and, by the acceptance of a Deed for a Lot, agree not to oppose, either directly or indirectly, such development and shall cooperate or cause the Association to cooperate with such development by executing permit applications if necessary. (e)Landscaping is prohibited within the stormwater easement areas as depicted on the Plans. Pesticide and herbicide application is prohibited within the wetlands and buffer areas. Mowing is prohibited in the wetlands and/or their buffers. There shall be no mowing within fifty (50) feet of the wetlands and the wetlands buffers may not be turned into lawn. Brush-hogging is permitted no more than three (3) times per year. Disturbance of wetland vegetation should be limited to remediation activities only, and no planting of non-native species in wetlands or their buffers shall be permitted except to meet conditions of the Planned Community’s Individual Wetland Permit issued on June 2, 2015, by the Vermont Agency of Natural Resources as the same may be amended from time to time. Section 14.21.Amendments. No amendment of Section 14.18, Section 14.19 or Section 14.20 of this Article shall be effective without the prior written consent of the Vermont District No. 4 Environmental Commission. ARTICLE 15 Amendments Section 15.1.General. Except for amendments which may be made by Declarant hereunder and in § 2-109(f) or § 2-110 of the Act, amendments by the Association under § 2-106(d), § 2-108(c) or § 2-112(a) of the Act, or by Owners under § 2-108(b), § 2-112(a) or §2-118(b) of the Act, and except for the limitations set forth in § 2-117(d) of the Act, this Declaration may be amended by vote or agreement of Owners to which at least sixty- seven percent (67%) of the votes in the Association is allocated. All amendments to this Declaration shall be made in accordance with § 2-117 of the Act. Section 15.2.Rights Reserved in Declarant. Notwithstanding the amendment provisions set forth above in Section 15.1, Declarant may unilaterally amend this Declaration in accordance with the provisions of Article 13, and may also unilaterally amend this Declaration at any time to satisfy and meet any requirement of the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Vermont District No. 4 Environmental Commission, the Vermont Environmental Board and/or Environmental Court, the City of South Burlington or a title insurance company insuring or offering to insure all of a portion of the Property. Section 15.3.Special Declarant Rights GRAVEL & SHEA DRAFT 10/24/22 - 25 - . The provisions in this Declaration creating Development Rights and Special Declarant Rights may not be amended without the consent of Declarant. See Article 13 generally. Section 15.4.Consent of Mortgage Holders. Amendments are subject to the consent requirements of Article 16. ARTICLE 16 Rights Related to Mortgages Section 16.1.Notice of Action. Upon written request to the Association from any Institutional Mortgage identifying its name and address and the Lot number or address, such Institutional Mortgagee shall be entitled to timely written notice of: (a)Any condemnation loss or any casualty loss which affects any material portion of the Planned Community or any Lot on which there is a first mortgage held, insured or guaranteed by such qualified requesting party; (b)Any delinquency in the payment of Assessments or other charges by an Owner subject to a first mortgage held or insured by such party, which delinquency remains uncured for a period of sixty (60) days; (c)Any lapse, cancellation or material modification of any insurance policy or fidelity bond maintained by the Association; or (d)Any proposed action which would require the consent of a specified percentage of Institutional Mortgagees. Section 16.2.Special Voting Rights of Institutional Mortgagees. Any action with respect to the Planned Community, including, but not limited to, material amendment to this Declaration, restoration or repair after partial or total condemnation or casualty loss, or termination of the legal status of the Planned Community under the Declaration, requiring the votes of the Owners, shall also require the consent of Institutional Mortgagees holding mortgages on Lots which represent at least fifty-one percent (51%) of the mortgages of Institutional Mortgagees in the Planned Community; provided, however, that in the case of a termination of the Planned Community not made as a result of destruction, damage or condemnation, the applicable percentage shall be sixty- seven percent (67%) instead of fifty-one percent (51%). For purposes of this Section, a “material amendment” includes, but is not limited to, any provision affecting: (a)Assessments, Assessment liens or subordination of Assessment liens; (b)Voting rights; (c)Reserves for maintenance, repair and replacement of Common Elements; (d)Responsibility for maintenance and repairs; (e)Reallocation of interests in the Common Elements or Limited Common Elements (other than reallocation in connection with the exercise of Declarant’s Development Rights), GRAVEL & SHEA DRAFT 10/24/22 - 26 - except that when Limited Common Elements are reallocated by agreement between Owners, only those Owners and only the Institutional Mortgagees which hold mortgages on such Lots must approve such action; (f)Rights to use Common Elements and Limited Common Elements; (g)Boundaries of Lots, except that when boundaries of only adjoining Lots are involved, then only those Owners and the Institutional Mortgagees holding mortgages on such Lots must approve such action; (h)Convertibility of Lots into Common Elements or Common Elements into Lots; (i)Expansion or contraction of the Planned Community, or the addition, annexation or withdrawal of property to or from the Planned Community, except as otherwise reserved by Declarant in Article 13 or other than as specified in this Declaration; (j)Insurance or fidelity bonds; (k)Leasing of Lots; (l)Imposition of restrictions on an Owner’s right to sell or transfer his or her Lot; (m)Restoration or repair of the Planned Community after a hazard damage or partial condemnation in a manner other than that specified in this Declaration; (n)Termination of the Planned Community after the occurrence of substantial destruction or condemnation; and (o)Any provision that expressly benefits mortgage holders, insurers or grantors. Section 16.3.Failure to Provide Negative Responses. For the purposes of Section 16.2 above, an Institutional Mortgagee who receives a written request to approve an action in accordance with Section 16.2, delivered by certified, return receipt requested, shall be deemed to have consented to such action unless said Mortgagee provides a negative response to the Association within sixty (60) days after the date of receipt by the Mortgagee of the written request. See § 2-117(h) of the Act. ARTICLE 17 Miscellaneous Section 17.1.Invalidity. If any provision of this Declaration is held to be invalid, the invalidity thereof shall not affect other provisions of this Declaration which can be given effect without the invalid provision, and to this end the provisions of this Declaration are severable. Section 17.2.Headings. The headings in this Declaration are for purposes of reference only and shall not limit or otherwise affect the meaning thereof. Section 17.3.Agent. The entity that shall receive service of process for the Association during the period of Declarant control is Vermont Attorney Registered Agent Services, LLC which is presently located at GRAVEL & SHEA DRAFT 10/24/22 - 27 - 3063 Williston Road, South Burlington, VT 05403. The agent for service of process may be amended from time to time at the discretion of the Declarant during the period of Declarant control and thereafter, by the Association Executive Board. Section 17.4.Declarant’s Disclaimer for Economic Benefit. Declarant has made no representations, and Declarant hereby disclaims any representations made by anyone claiming to act as Declarant’s authorized agent, as to the feasibility of renting a Lot in the Planned Community or otherwise generating income or deriving any other economic benefit from a Lot. Section 17.5.Declarant’s Disclaimer for Security. Neither the Association nor Declarant shall be held liable for any loss or damage by reason of failure to provide adequate security or ineffectiveness of security measures undertaken. All Owners, and tenants, guests and invitees of any Owner, as applicable, acknowledge that Declarant and the Association are not insurers and that each Owner, tenant, guest and invitee assumes all risk of loss or damage to persons, to Dwellings and to contents of Dwellings, and further acknowledge that neither Declarant nor the Association has made any representation or warranty, nor has any Owner, tenant, guest or invitee relied upon any representation or warranty, express or implied, including any warranty of merchantability or fitness for any particular purpose relative to any security measures recommended or undertaken. Section 17.6.Governing Law. This Declaration shall be governed by and construed in accordance with the laws of the State of Vermont, without giving effect to such jurisdiction’s principles or conflicts of laws, IN WITNESS WHEREOF, Declarant has executed or caused this Declaration to be executed as of the _____ day of _______________, 2022. JJJ SOUTH BURLINGTON, LLC By:_____________________________________ Brad Dousevicz, Duly Authorized Agent STATE OF VERMONT COUNTY OF CHITTENDEN, SS. Before me, on this _____ day of ________________, 2022, personally appeared Brad Dousevicz, Duly Authorized Agent of JJJ SOUTH BURLINGTON, LLC, known to me to be the person who executed the foregoing instrument, and he/she acknowledged this instrument, by him/her signed, to be his/her free act and deed and the free act and deed of JJJ SOUTH BURLINGTON, LLC. Notary Public – State of Vermont Printed Name: Commission No.: Commission Expires: 1/31/23 GRAVEL & SHEA DRAFT 10/24/22 A-1 Exhibit A PROPERTY DESCRIPTION Parcel 1: Being all and the same land and premises conveyed to JJJ South Burlington, LLC by Warranty Deed of G & A Associates, LLC dated September 30, 2013 and recorded in Volume 1191 at Page 265 of the City of South Burlington Land Records. Being all and the same land and premises conveyed to G & A Associates, LLC by Warranty Deed of Ernest N. Auclair dated May 25, 2006 and recorded in Volume 751 at Page 473 in the City of South Burlington Land Records. Being a parcel of land containing thirty (30) acres, more or less, which is shown and depicted as Lot #1 on a plan of land entitled, “Portion of the Lands of Ernest N. Auclair, off Hinesburg Road, South Burlington, VT, Subdivision Plat”, prepared by Button Professional Land Surveyors, PC, dated October 7, 2005, last revised January 19, 2006, and recorded in Map Slide 478 in the City of South Burlington Land Records. Said land and premises are subject to and benefitted by the terms and conditions of: (1) Wastewater System and Potable Water Supply Permit No. WW-4-2605 issued on April 26, 2006 and recorded in Volume 751 at Page 464 in the City of South Burlington Land Records; and (2) Conditional Use Determination No. 2007-616 issued on October 2, 2008 and recorded in Volume 832 at Page 289 in the City of South Burlington Land Records. Also included herewith is all of G & A Associates, LLC’s right, title and interest in and to development rights conveyed to Dorset Street Associates, LLC and G & A Associates, LLC pursuant to a Density Reduction Easement and Transfer of Development Rights to Receiving Property from Ernest N. Auclair dated March 17, 2009 and recorded in Volume 848 at Page 262 in the City of South Burlington Land Records. Parcel 2: Being all and the same land and premises conveyed to JJJ South Burlington, LLC by Warranty Deed of Dorset Street Associates, LLC dated September 30, 2013 and recorded in Volume 1191 at Page 263 of the City of South Burlington Land Records. Being a parcel of land containing 35.48 acres, more or less, and being that parcel of land identified as Common C on a plan of land entitled, “The Cider Mill, South Burlington, Vermont, Overall Subdivision Plat”, prepared by Button Professional Land Surveyors, PC, dated April 23, 2003, last revised April 19, 2007, and recorded in Map Slide 496 at Page 5 in the City of South Burlington Land Records. Also included herewith is an easement and right of way for all legal purposes, including ingress, egress and the laying of utilities, over and across a sixty foot (60’) wide right of way which travels in a westerly direction from the northwest corner of the herein described property to the easterly sideline of Sommerfield Avenue, all as more particularly depicted on “Subdivision Plat C” recorded in Map Slide 497 at Page 2 in the City of South Burlington Land Records. GRAVEL & SHEA DRAFT 10/24/22 A-2 Also included herewith is that non-exclusive right of way in common with others over a seventy-five foot (75’) wide strip of land leading westerly from Hinesburg Road to a point on the easterly sideline of the herein described parcel of land. Also included herewith are rights of way and easements in common with others for ingress and egress over and across the roadways depicted on the above-referenced plans, including, but not limited to, Cider Mill Drive, Crispin Drive, Royal Drive, Winesap Lane, Braeburn Street and Sommerfield Avenue, until such time as said streets are accepted as public streets by the City of South Burlington; subject, however, to the restriction that any and all construction vehicles engaged in development activity on the herein described parcel shall access the property from Hinesburg Road and not through the above-referenced streets in the Cider Mill subdivision. Also included herewith are easements in common with others for utilities and stormwater drainage through lands of Dorset Street Associates, LLC where said utilities and stormwater drainage are located outside the boundaries of the above-mentioned streets. Also included herewith are easements and rights of way over all the streets shown on the Plat and easements for the utilities located therein until such streets and utilities are accepted by the municipality as public streets and utilities, and are conveyed with easements for water, wastewater and stormwater lines and improvements outside street boundaries which serve the Property as shown on the Plat. Reference is made to the Irrevocable Offer of Dedication from JJJ South Burlington, LLC to the City of South Burlington dated September 24, 2016 and recorded in Volume 1341 at Page 128 of the City of South Burlington Land Records (dedicating the public roadways and public infrastructure depicted on the Plat). The herein described parcel of land is also subject to and benefitted by all requirements, easements, rights of way, covenants and restrictions contained in the findings, conclusions, terms and conditions and attached exhibits of the following, as they may be amended from time to time: (a) Land Use Permit No. 4C1128-1 dated March 16, 2005 and recoorded in Volume 701 at Page 629 of the City of South Burlington Land Records; (b) Land Use Permit No. 4C1128-4 dated February 29, 2016 and recorded in Volume 1311 at Page 164 and Volume 1317 at Page 329 in the City of South Burlington Land Records; (c) Wastewater System and Potable Water Supply Permit No. WW-4-2225 dated March 11, 2005 and recorded in Volume 702 at Page 146 in the City of South Burlington Land Records; (d) Wastewater System and Potable Water Supply Permit No. WW-4-2225-R dated March 18, 2005 and recorded in Volume 702 at Page 149 in the City of South Burlington Land Records; (e) Wastewater System and Potable Water Supply Permit No. WW-4-2225-1 dated June 16, 2006 and recorded in Volume 761 at Page 287 in the City of South Burlington Land Records; (f) Wastewater System and Potable Water Supply Permit No. WW-4-2225-2 dated January 9, 2008 and recorded in Volume 805 at Page 133 in the City of South Burlington Land Records; (g) Wastewater System and Potable Water Supply Permit No. WW-4-2225-5 dated November 23, 2015 and recorded in Volume 1300 at Page 39 and Volume 1301 at Page 190 in the City of South Burlington Land Records; (h) Authorization to Discharge Permit No. 3144-9015 issued on April 28, 2004 and recorded in Volume 687 at Page 623 in the City of South Burlington Land Records; (i) Stormwater Discharge Permit No. 3144-9015.2 dated August 1, 2017, a Notice of Issuance of which is recorded in Volume 1380 at Page 113 in the City of South Burlington Land Records; (j) Stormwater Discharge Permit No. 3144-9015.2A dated August 1, 2017, a Notice of Issuance of which is recorded in Volume 1384 at Page 267 in the City of South Burlington Land Records; (k) Public Water System Permit to Construct Project No. E-1634, WSID No. 5091 dated December 25, 2005, of record with the State of Vermont Water Supply Division; (l) Conditional Use Determination No. 2001-002 issued on October 27, 2004 and recorded in Volume 687 at Page 627 in the City of South Burlington Land Records; (m) Conditional Use Determination No. 2007-616 GRAVEL & SHEA DRAFT 10/24/22 A-3 dated October 2, 2008 and recorded in Volume 832 at Page 289 in the City of South Burlington Land Records; (n) State of Vermont Individual Wetland Permit No. 2014-201 dated June 21, 2015 and recorded in Volume 1311 at Page 170 in the City of South Burlington Land Records; (o) Army Corps of Engineers Permit No. NAE-2014- 2395 dated June 19, 2015; (p) Approvals granted by the City of South Burlington Development Review Board dated August 19, 2003, February 21, 2006, May 16, 2006, April 17, 2007, October 17, 2007 and November 20, 2008; (q) City of South Burlington Development Review Board’s Findings of Fact and Decision on Final Plat Application #SD-16-01 dated March 16, 2016 and recorded in the City of South Burlington Zoning Files; (r) City of South Burlington Development Review Board’s Findings of Fact and Decision on Preliminary Plat Application No. SD-17-29 dated March 21, 2018 and recorded in the City of South Burlington Zoning Files; (s) City of South Burlington Development Review Board’s Findings of Fact and Decision on Master Plan Amendment No. MP-17- 09 dated March 21, 2018 and recorded in the City of South Burlington Zoning Files. Being a portion of the land and premises referred to as “Parcel II” in a Warranty Deed from Royal C. Chittenden and Robert R. Chittenden to Dorset Street Associates, LLC dated May 3, 2005 and recorded in Volume 708 at Page 354 in the City of South Burlington Land Records, as corrective by Corrective Warranty Deed dated May 9, 2005 and recorded in Volume 709 at Page 255 in the City of South Burlington Land Records. Also included herewith is all of Dorset Street Associates, LLC’s right, title and interest in and to development rights conveyed to Dorset Street Associates, LLC and G & A Associates, LLC pursuant to a Density Reduction Easement and Transfer of Development Rights to Receiving Property from Ernest N. Auclair dated March 17, 2009 and recorded in Volume 848 at Page 262 in the City of South Burlington Land Records. Reference is hereby made to the above-mentioned instruments, the records thereof, the references therein made, and their respective records and references, in further aid of this description. GRAVEL & SHEA DRAFT 10/24/22 B-1 Exhibit B ASSOCIATION BYLAWS [See Attached]